Exam 2: The Economy: Myth and Reality

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Consumer spending accounts for what share of GDP?

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Since 1960, per capita real GDP in the United States has nearly tripled.

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GDP tends to rise and fall during economic fluctuations but other measures follow the same pattern. One of these measures is

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One important role for government as referee is in defining and enforcing property rights.

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The U.S. economy is unique for both its size and prosperity.

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